Stay updated with breaking news from Lydia potocnik. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Younger clients are more interested in the impact of their donations over recognition and want to see social or environmental change, advisors say ....
Why donor-advised funds are surging in popularity Brenda Bouw Published April 29, 2021 fzant/iStockPhoto / Getty Images More charitably-minded Canadians are turning to donor-advised funds as a simplified, tax-efficient way to give, supported by financial advisors looking to help clients distribute their wealth to good causes. Donor-advised funds have been around for decades in Canada, but data show the charitable-giving vehicles have gained significant traction in recent years. A recent report from Toronto-based research firm Investor Economics says the value of donor-advised funds in Canada grew at a compound annual rate of 14.3 per cent between 2016 and 2018, to $5.7-billion from $4.4-billion. There was a 35-per-cent increase in the number of donor-advised funds set up at various foundations over the two-year period, the report shows, and a steady rise in donations to new and existing funds. ....